By Marcus Leach

It’s official: We value our gadgets ahead of our own lives. That is the
finding of a recent survey by Endsleigh Insurance, which revealed that
office workers are twice as likely to insure their gadgets than take out
life insurance.

In a new poll, office workers were asked whether they would be more likely
to insure themselves, or their mobiles and iPads if they had an extra £20
in their salary. As many 28% of those surveyed would insure their mobile
phone or laptop, compared to just 17% who would invest in life insurance.

When questioned further, respondents said that they couldn’t live without
their smart phones and other gadgets such as iPads and laptops citing such
reasons as:-

“I love my iPad, it’s the best thing ever…”

“My laptop holds all my personal information and photos, I’d be lost
without it….”

“I couldn’t manage without my phone — I use it for everything, music,
Facebook, and Twitter…..”

“If I ever forget to take my phone I feel lost without it…..

The independent poll showed that the least popular types of insurance were
policies to cover jewellery (4%), travel (4%) and household appliances (5%).
Interestingly people were twice as likely to take out insurance to cover
the cost specifically for servicing their gas boiler, rather than cover the
cost of repairing their fridge, freezer or cooker.

“It’s worrying that many people are failing to see the importance of life insurance," Will Brunwin, IFA Manager at Endsleigh, commented.

"It’s our responsibility to ensure that people understand that in the event of their death without this their dependents could be left with insufficient income to pay for not just phones, laptops and other gadgets, but significantly more important costs such as food, mortgage payments and utilities bills.”

Full Survey results:

What type of insurance would you spend an extra £20 in your pay packet on?

Mobile / gadget insurance: 28%
Life insurance: 17%
Income insurance: 15%
Pet insurance: 11%
Household appliance insurance: 5%
Jewellery insurance: 4%

Endsleigh Insurance has compared the benefits of mobile phone and life
insurance, asking the question: “A new phone and laptop versus £400,000
and financial security?”

According to Endsleigh Insurance (http://www.Endsleigh.co.uk/gadget) to
insure an iPhone4, an Apple Macbook, an iPad and a Sony Playstation 2 would
cost £19.32 per month.

If a 30 year old male with a wife and 2 children were to spend the same £20
on life insurance, in the event of his death his family could receive a lump
sum of £437,923 (Bright Grey level term insurance over 25 years, male age
30 non-smoker).

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